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India to boost food, pharma, IT, tourism exports in China’s first import only show

Published Date: 11/15/2018 8:56:31 PM

India is eyeing giving a boost to its exports of food and agro productsNSE 0.47 %, pharmaceuticals, information technology (IT) and services such as tourism to China as it participates in the first China International Import Expo (CIIE).

“These four areas represent very minuscule Indian presence in China contrary to India’s strength and overall global presence,” commerce and industry ministry said in a statement on Monday.

The expo, being held in Shanghai from November 5-10, will help India reduce its trade deficit with China.

China is India’s largest trading partner with a total trade of $89.71 billion in 2017-18. With India’s exports of $13.33 billion, the trade balance is highly in favor of China.

“The CIIE will provide a platform for increasing India’s exports to China. Interactions between the two sides will also expedite market access issues particularly for pharma, IT & ITES, agro and processed food,” said Federation of Indian Export Organisations (FIEO) in a statement.

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